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Pivoting Strategic Business Approaches in the Strategic Business Advice Process: Lessons Learned from Case Studies of Small Innovative Firms

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Eurasian Business Perspectives

Part of the book series: Eurasian Studies in Business and Economics ((EBES,volume 15/2))

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Abstract

Strategic business advice is perceived as the way to meet challenges related to business development and strategic change, with direct impact on business growth and productivity. Small innovative firms can benefit from it, as they are constantly seeking for new solutions in order to provide better market offers and are willing to achieve higher rents than industry average. Thus, they need to transform their strategic business approaches, including implementation of new products and increasing business model efficiency. In the paper, the process of business advice is explored, and critical stages of this process are distinguished and explained. The model of strategic business advice process is built based on case studies analysis, in which a process of pivoting business strategies has been especially explored. Therefore, two case studies illustrating pivoting (A) strategic idea of the product and (B) strategic business model approach are presented. It is concluded that strategic business advice is a powerful tool when pivot in company’s strategic orientation is necessary, but several conditions have to be met for the change to happen.

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Author information

Authors and Affiliations

  1. Department of Business Management, Institute of Management, University of Szczecin, Szczecin, Poland

    Katarzyna Łobacz

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  1. Katarzyna Łobacz
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Correspondence to Katarzyna Łobacz .

Editor information

Editors and Affiliations

  1. Faculty of Political Sciences, Istanbul Medeniyet University, Istanbul, Türkiye

    Mehmet Huseyin Bilgin

  2. MUFG Union Bank, San Francisco, CA, USA

    Hakan Danis

  3. Faculty of Tourism, Istanbul Medeniyet University, Istanbul, Türkiye

    Ender Demir

  4. School of Economics, Finance and Accounting, Coventry University, Coventry, UK

    Uchenna Tony-Okeke

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Łobacz, K. (2020). Pivoting Strategic Business Approaches in the Strategic Business Advice Process: Lessons Learned from Case Studies of Small Innovative Firms. In: Bilgin, M.H., Danis, H., Demir, E., Tony-Okeke, U. (eds) Eurasian Business Perspectives. Eurasian Studies in Business and Economics, vol 15/2. Springer, Cham. https://doi.org/10.1007/978-3-030-48505-4_7

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